ECONOMY

Turkish Airlines strike off

ISTANBUL (Reuters) – Turkish Airlines and a union representing its staff have reached a wage deal, Labor Minister Murat Basesgioglu said yesterday, averting a strike at the peak of the tourist season. Sources close to the talks told Reuters earlier that a deal had been reached, prompting a 5 percent rise in the company’s shares on relief that a potentially damaging strike had been avoided. The announcement came after a final round of talks between the company’s management and the Hava-Is union, which represents more than 11,000 staff at Turkish Airlines, including pilots and attendants. «The parties reached an agreement on all issues. A complete agreement was reached,» the minister told a news conference. Under the deal, the airline’s staff will receive a wage hike of 10 percent plus a one-off rise of 80 lira this year. In 2008, they will receive a wage rise of inflation plus 3 percent in the first half and inflation plus 4 percent in the second half.